Larry Kudlow, President Donald Trump’s chief economic advisor, told CNBC on Friday that he doesn’t want to “panic on policy measures” designed to combat the new coronavirus and said that U.S. growth remains strong. “We would prefer a targeted approach, a rather micro approach,” Kudlow said. “Let’s think about individuals who might lose paychecks because […]
Tag: Breaking News: Markets
nonfarm payrolls up 273,000; unemployment 3.5%
A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters Nonfarm payrolls grew far more than expected in February as companies continued to hire amid […]
Zoom Video, American Eagle, FireEye, Moderna & more
Check out the companies making headlines before the bell: Zoom Video (ZM) — The video conferencing company reported earnings of 15 cents per share on revenue of $188.3 million. Wall Street was expecting earnings of 7 cents per share on revenue of $176.5 million, according to Refinitiv. American Eagle (AEO) — The retailer’s quarterly earnings beat on […]
G-7 coronavirus statement promises action as needed
Officials of most of the world’s largest economies pledged on Tuesday a united front in the battle against the novel coronavirus scare but offered no specific actions. “Given the potential impacts of COVID-19 on global growth, we reaffirm our commitment to use all appropriate policy tools to achieve strong, sustainable growth and safeguard against downside […]
Dow set to drop 200 points after G-7 fails to deliver policy action to combat coronavirus
U.S. stock index futures indicated a lower open on Tuesday after a statement by the G-7 failed to assuage investor concerns over how the biggest global economies will curb the economic impact of the coronavirus. Futures also pointed to declines after a report said a New York City high school was closed due to a […]
Dow roars back from coronavirus sell-off with biggest gain since 2009, surges 5.1%
Stocks rose sharply in volatile trading on Monday, with the Dow Jones Industrial Average posting its best day in more than a decade as Wall Street regained a big chunk of their losses from last week’s massive sell-off. The Dow closed 1,293.96 points higher, or 5.1%, at 26,703.32. The move on a percentage basis was the Dow’s biggest […]
Dow futures down 200, traders search for the bottom
Traders work during the opening bell at the New York Stock Exchange on February 27, 2020. Johannes Eisele | AFP | Getty Images 8:28 am:Â 10-year yield could go to 0.75%, strategist says The U.S. Treasury 10-year yield could fall further into record-low territory and eventually reach 0.75%, stratetgist Komal Sri-Kumar said. “Usually, when the yield […]
Wall Street sees chance of interest rates falling to zero by summer
With the Federal Reserve expected to act soon in response to the coronavirus scare, there’s a chance that the central bank could take policy back to where it was during the financial crisis. Goldman Sachs economists said Sunday they see the Fed cutting rates by 50 basis points by its March meeting or sooner, and […]
Top economist Ed Hyman sees zero US growth next two quarters
Ed Hyman, a widely followed economist on Wall Street, said the coronavirus outbreak could end up causing a recession in the U.S. and slashed his U.S. GDP forecast to zero growth in the second and third quarters of this year “More cases are showing up in the U.S. and seem likely to be just the […]
The Dow just lost 12% in one week. Here’s why and what likely happens next
The U.S. stock market suffered a historic pullback this week as the coronavirus spread outside of China, spooking investors and traders out of equities. The Dow Jones Industrial Average and S&P 500 each dropped 12% and 11% for the week, respectively, marking their worst weekly performance since the financial crisis. The 30-stock Dow posted its […]
